The $8700 Reason You May Want An ALDI In Your Neighbourhood

Most ALDI-converts are aware of the savings to be had at the discount supermarket but a new study has revealed an even bigger effect the German store can have on your wallet.

According to The Sun, houses in the UK in close proximity to an ALDI found their property values rise by a whopping $8,700.

The survey, carried out by an English mover and conveyancing service called My Home Move, also discovered that the difference in house prices occurred within just three months of a store opening.

"Our own research has shown that a third of home movers chose their new property based on its proximity to shops and local amenities - and as such we are not surprised that the recent popularity of ALDI, with its cheaper lines and award-winning products, has had a positive effect on the value of local homes," My Home Move's chief executive Doug Crawford explained.

"A few years ago people were talking about the Waitrose effect, but today it seems home buyers are choosing to take the 'swap and save' challenge to heart, as locations such as South Ruislip, Billingham and Poynton have increased in popularity.

"The only exception in our research was Reading, where prices have dropped - but with three stores within a two-mile radius of the city centre, it may be that consumer demand has now been met."

Since entering the Australian market in 2000, ALDI have opened almost 400 of their cut-price stories along the east coast, and are rapidly expanding west, announcing plans for 50 new shops in South Australia earlier this year.